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ClassPass Announces Plans for North America Expansion Leading into 2018ClassPass, the leading membership to the world's largest fitness network, today announced that it plans to expand to 10 additional cities in North America within the next six months. The accelerated growth follows the company's most recent and largest round of $70 million in funding led by Temasek, allowing ClassPass to continue to grow its total addressable market while better serving the broader fitness community. "We've continued to see strong momentum with the adoption of ClassPass in our current markets, and I look forward to growing our network by introducing the platform to even more people domestically and ultimately abroad," said Fritz Lanman, CEO. "It's an exciting time for the company as we accelerate growth across the board while gearing up for major product announcements, and there is already a lot of interest in these specific markets from both potential members and studio patners." ClassPass is the largest fitness network with over 8,500 studios and gyms available on the platform worldwide. With the traction of a wider range of plan offerings in the past year, the company has tapped into a larger segment of users while rolling out new features that allow members to visit their favorite studios more often, facilitating loyalty in addition to variety for a more flexible membership. This round of expansion will further the company's position as the leader in fitness experiences as it grows both its member and partner base. "The mission of ClassPass has always been to help people live a more active lifestyle, so it's incredibly rewarding to be broadening our footprint and touching the lives of even more people," said Payal Kadakia, Founder and Executive Chairman. "Every day we get emails and inquiries from people in other cities asking when we are coming to their town, so I'm thrilled to be able to deliver on that." ClassPass will be available in New Orleans, Pittsburgh and San Antonio as early as September, and seven additional markets will launch by early 2018. ClassPass is currently in 31 cities domestically and eight cities internationally. These expansion plans will bring the total count up to 49 cities globally. Coming in September 2017
New Orleans, LA Coming soon:
Cincinnati, OH This is the first wave of further expansion plans by the company. ClassPass plans to announce additional international cities in early 2018. With over 40 million reservations to date, ClassPass is introducing new users to fitness by merchandising and surfacing over one million classes available on the platform to the benefit of both its members and partners. Based on evolving market trends and opportunities, ClassPass is further investing in innovative technology and infrastructure while expanding its total addressable market. About: Founded in 2013, ClassPass is the leading membership to the world's largest fitness network. With over 8,500 partners in 39 cities worldwide, ClassPass connects members to a variety of fitness experiences, including yoga, cycling, Pilates, barre, running, strength training, dance, sports, videos and more. Recognized as one of Forbes's Next Billion Dollar Startups, ClassPass leverages proprietary technology to dynamically merchandise and surface over a million fitness classes for a seamless booking experience that facilitates discovery.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170822005395/en/ |
